EFCC Arraigns Construction Company GMD Over Alleged $600,000 Cash Transaction Violations in Enugu
The Economic and Financial Crimes Commission (EFCC) has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Mrs. Egwuche Chinyere Gladys, before the Federal High Court in Enugu over allegations of money laundering and unlawful cash transactions amounting to $600,000.
The case, which is being prosecuted by the Enugu Zonal Directorate of the EFCC, centers on allegations that the defendant and her company received multiple cash payments that exceeded the legal threshold prescribed under Nigeria’s Money Laundering (Prevention and Prohibition) Act, 2022.
Mrs. Gladys appeared before Justice F. O. Giwa-Ogunbanjo of the Federal High Court sitting at Independence Layout, Enugu, alongside Brass Engineering and Construction Nigeria Limited, where both defendants were docked on a 12-count charge bordering on money laundering.
According to the anti-graft agency, the defendant, while serving as the Group Managing Director of the company, allegedly accepted a total of $600,000 in cash through 12 separate transactions between March 13 and April 11, 2023.
The EFCC alleged that the payments were made as part payment for the sale of a 180220TPH Granite Stone Crushing Line supplied by Brass Engineering and Construction Nigeria Limited to Patan Nigeria Limited and Reinforce Global Resources Limited (Joint Venture).
Investigators contend that each of the cash payments, valued at $50,000 per tranche, exceeded the statutory cash transaction limit permitted by Nigerian law and should have been processed through a recognized financial institution rather than being conducted directly in cash.
One of the charges presented before the court alleged that on March 13, 2023, the defendants accepted $50,000 in cash in Abakaliki, Ebonyi State, without routing the transaction through a financial institution, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
A similar allegation was also made regarding another $50,000 cash payment allegedly received on March 15, 2023, with prosecutors maintaining that the transaction equally violated the law because it exceeded the statutory threshold of ₦10 million for cash payments.
The EFCC argues that these transactions formed part of a broader pattern of unlawful cash dealings carried out over several weeks, culminating in a total cash receipt of $600,000.
When the charges were read in court, Mrs. Gladys pleaded not guilty to all twelve counts.
Following her plea, counsel to the EFCC, Assistant Commander of the EFCC (ACE II) Rotimi Enitan Ajobiewe, urged the court to fix a date for trial, arguing that the prosecution was prepared to present evidence to substantiate the allegations against both the defendant and the company.
The prosecution also requested that the court remand the defendant at the facility of the Nigerian Correctional Service (NCoS) pending the commencement of trial.
However, defence counsel Roy O. U. Nwaeze, SAN, informed the court that a formal bail application had already been filed on behalf of his client. He subsequently moved the application and appealed to the court to grant bail, arguing that the defendant was entitled to it under the law.
After considering submissions from both parties, Justice Giwa-Ogunbanjo granted Mrs. Gladys bail under stringent conditions.
The court admitted her to bail in the sum of ₦200 million, with two sureties in like sum.
The judge further directed that each surety must possess landed property within the jurisdiction of the Federal High Court.
In addition, the court ordered the defendant to surrender her international passport to the court registrar as part of the bail conditions.
The EFCC was also directed to verify the addresses and credentials of the proposed sureties within seven days before the bail conditions could be perfected.
The matter was subsequently adjourned to November 11, 2026, when trial is expected to commence.
The prosecution’s case is expected to focus on proving that the defendant and the company knowingly violated provisions of Nigeria’s anti-money laundering laws by conducting high-value business transactions outside the regulated banking system.
Under the Money Laundering (Prevention and Prohibition) Act, 2022, individuals and corporate bodies are prohibited from making or receiving cash payments above prescribed limits without processing such transactions through licensed financial institutions. The legislation was enacted to strengthen transparency, improve financial accountability, and curb money laundering, terrorism financing, and other financial crimes.
Authorities have repeatedly emphasized that compliance with the law applies to all businesses, regardless of their size or sector, particularly where transactions involve substantial sums of money.
The EFCC has continued to intensify enforcement of financial regulations as part of broader efforts to promote accountability in both the public and private sectors.
The case involving Brass Engineering and Construction Nigeria Limited is expected to test the application of the Money Laundering Act to corporate cash transactions and may provide further judicial interpretation of compliance obligations imposed on businesses operating in Nigeria.
As legal proceedings commence, the allegations remain before the court, and Mrs. Egwuche Chinyere Gladys and Brass Engineering and Construction Nigeria Limited are presumed innocent unless and until proven guilty in accordance with Nigerian law.
